Posted On: 09/25/2015 2:44:51 PM
Post# of 11038
I understand your point but FINRA and DTCC followed the rules. The special dividend rule may not be used very often but it's defined right there in the paragraph below the standard dividend and there is a reason and story to have that rule. The mess was created by CRGP, COR, and the note holders.
Dividend declaration by CRGP may "clearly say prior to June 30" but SEC rules clearly say that "If dividend is 25% or above of the share price, ex-date is changed to one day after payment". All other dates are dependent of this date.
Same thing now with the merger. If CRGP-Milagros want to be taken seriously, they should follow the rules. Successful companies know the rules, and not only that, they know how to use the rules in their advantage, and not as a limitation.
Dividend declaration by CRGP may "clearly say prior to June 30" but SEC rules clearly say that "If dividend is 25% or above of the share price, ex-date is changed to one day after payment". All other dates are dependent of this date.
Same thing now with the merger. If CRGP-Milagros want to be taken seriously, they should follow the rules. Successful companies know the rules, and not only that, they know how to use the rules in their advantage, and not as a limitation.
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IMHO
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
Always, always do you own DD. Only invest funds you can afford to lose and trust nobody but yourself.
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